I just wanted to check regarding the statement that you made about a large part of this growth being structural. And what are the factors that you're seeing, which is helping you to say that… We see clearly bullions really driving most of the volumes and the bullion volatility is also driving a lot of this picture. If you could throw some light, it will be fantastic.
Okay. So, you believe really the momentum is continuing the way you see the trend in the last few months?
Just wanted to check a little bit of an understanding of how this will work when the prices for, especially the gold and silver, may possibly come down. Do you see a co-relationship between the past growth of gold and silver prices with this increased activity in your company?
So, I mean just hypothetically thinking of a situation where, say, for next few quarters, the price for bullion, both gold and silver doesn't increase, remains flat or comes down. In that scenario also, do you see that what you have in terms of volumes curren tly are the baseline and you would only grow from here? Or do you see a possibility for a decline in the volumes as well, more specifically?
My question was about the overall aluminum EBITDA which has fallen on a per metric ton basis from almost 23,000 per ton to 17,700, a 23% decline. And plastics have also fallen from 20,300 to 9,800, almost half. Given that you have this vision of 2030 where non-lead business would be almost 35 % to 40% of the overall business , c an you decompose how much margin compression is attributable in this case to one, the LME-linked input cost passthrough lag? And second, through the capacity ramp of absorption at Mund ra and recently commissioned plants? And third, the structural pricing pressure from competition or end-market weakness? And which of these do you expect that will reverse in the first half of FY27?
And when do you expect that approval because it’s been hanging for a long time?
I wanted to ask you some questions about the Ascent acquisition and how you're seeing this to become EPS accretive over a period of time. Currently, we obviously see that the EBITDA is slightly lower compared to the Indian operations. How do you see this e volving? When do you see this becoming EPS accretive?
Great. Just another question in the same line. Are there any thoughts about establishing some kind of a GCC kind of an operation given that you will have far more expansion globally at a faster pace in the medium to long term?
My question is about the international operations. So with the now Ascent coming into the picture, how do you see this business over the next few years? Do you see really that international business could overtake the domestic operations in the next few years?
Good afternoon, Mr. Sanghi.
We have built the CarTrade technology business is a very strong and sustainable business given that you have a strong turnaround in the last few quarters. However, our ROE last year was below the cost of capital at 6%. I'm sure you're looking at increasing this further to maybe at least 20%, 25% levels in the next few years. Can you share your vision when you see this happening?
Hi. My question is more about long term. You're getting into a lot of different parts of the value chain away from just a solar module manufacturer. So, in the next three to five years, how do you see yourself evolving as a company? What is the vision? What are the components that will be a significant part? And how do you see -- this will be a $10 billion company, $20 billion company? How do you see yourself in the next three to five years?
Okay. Thank you.
Hi, Feroze, congratulations once again for fantastic results. My question was a little more on the longevity front. The way the company has performed in the last few years, do you see this performance without any new platforms to be created to continue in the next 2 to 3 years as well and primarily focusing on how you're delivering on the PAT growth and also very high ROE. Do you see this in the same manner going forward?
Okay. So you don't think there is any need for new drivers like international markets or any other diversification that is really required to sustain this kind of growth?